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are we in the usa imitating failure? did you know that california and new york and hawaii are also poised to hit their richest people with a greater than 50% tax rate? isn't that great? emulate france. here now is jim pethokoukis of the american enterprise institute. jim, i thought we wanted to emulate success, not furl. >> i thought so, too. listen, the president wants to run an experiment and see how high we can crank up tax rates in this country without it hurting economic growth. they're already running it in europe, in france, in great britain. the entire european experiment here has been one of tax hike austerity. even though they focus on the spending cuts, you're talking about a high tax area raising taxes even higher. we're trying to to do the same thing here. >> least the brits have the humility to acknowledge their mistake. they took the rate from 40% 050%. millionaires left the island. now they're coming back and dropping it to 45%. at least the brits have some humility. the french don't seem to have any. those socialists are going to go down with the ship. >> they're going to
'm watching for is the 17th when the president is due to take his family to hawaii. i don't think he wants to be in hawaii without a deal. something is going to come up. >> ron, what about you? >> i thought the resignation of senator jim demint, who was a staunch conservative, which was a surprise departure, tells me the republicans in many ways are throwing in the towel on this deal. he's a guy who fought tooth and nail against this thing, against raising tax rates. you may want to work from the outside in, which is the way the press is portraying this. it looks like too many republicans are beginning to throw in the towel. they may finds a compromise that isn't necessarily clinton era tax rates, something in between. but it looks like the makings of a deal. with every change on the republican side, more and more likely to happen than not. >> all right. we'll see about that. we'll be watching. obviously, very, very important for the markets. thanks. see you later. >>> let's get to bertha coombs. one company with big moves after the bell. over to you. >> maria, amarin is falling after the
. the president is supposed to leave for a 21-day vacation in hawaii on december 17th. where he is on december 18th will tell me, and i think the markets will pay attention. i find it hard to believe, and i agree with bill and many, who are very not amused by the house taking their long weekend. i'm sure that the president would have no intentions of leaving until these issues are resolved. i think the market is being kind, but i think it's a timing issue. >> yeah, i think that's a good point. somebody mentioned the other day that the president is planning a trip to hawaii on december 17th. i said, what? they said, no, no, no, not unless the deal is done. we'll see about that. meanwhile, the house goes away for a lock weekend. all right, rob. what do you think? you think we're going to get a deal done by the year end? >> i think there will probably be a deal done. i think you have to look at the market fundamentals today and say equities are as cheap as th they've been in 50 years relative to bonds. equities are going to stay firm. the second thing is the money flows going to bonds, that's probab
? >> it is a both stock trapped in the commodity. it is going to have to wait. let's go to patricia in hawaii. >> yes, i'm here. yelp, i bought it at $21. >> hold on to it. i think it is worth more. don't sell yet. >> let's go to stewart in new york. >> how you doing. i love you like the giants and i have a winner for you for next year. >> well, um okay. it is okay. frankly, i prefer others to it. um, for instance, i would even prefer chesapeake to it right now. and that says a lot. i was going to do my stanford invitation. it gets better. here take this. it is the conclusion of the lightening round. coming up a world away. investors cool the stocks and send the shares to the fryer. has wall street lost it's appetite for fast food. just ahead. >>> nobody is more passionate about the market than i am. you are why i come out here and do this show. >> the stuff that you are doing is so important and i want to say thank you. >> we watch every day and we count on your help for small investors like us. >> put cramer's experience to work for you. "mad money" week nights on cnbc. >> what are we suppo
in hawaii. the senate is coming back. the house of representatives meanwhile is going to hold a conference call for all republicans later on today. but it's not clear that all these folks, including the president, are going to have much to do when they do come back to town. there's no deal pending on the table here on the fiscal cliff and we're creeping up here on new year's eve. and then yesterday, as you just mentioned, treasury secretary tim geithner really upped the ante in dramatic stakes in the fiscal cliff end game by saying that the united states is going to hit its borrowing limit on monday. now he said the treasury can put in place some extraordinary measures and it has some wiggle room there but he said that the doubt and uncertainty over the fiscal cliff really clouds the prospect of exactly when the united states is going to hit its debt ceiling, statutory borrowing limit. so, that all adds a whole element of drama to all this. and it's really not clear, guys, at this point, how this thing is going to get resolved. but the house has said that it would like the senate now to go
think that we're getting down to the wire here. president obama doesn't want to cancel his hawaii vacation, and harry reid's threatening to keep congress in session, again, for the third year, fourth year in a row. that could have been one of the things they talked about. but at this point, i'm not quite sure if boehner can really get a deeper spending cut deal. i think the most he's going to be able to get is a promise. >> keith boykin, the other thing when i was down in washington yesterday, on the phone with all these guys, is that basically the republicans are going to cave in. basically they're going to cut their losses. basically it's a strategic retreat, that's what i call it, and they will give the president, they will give him his middle class tax cuts, or extended tax cuts and the top rates are going up. now, what the gop gets in return for that i do not know. but i see a cave-in, keith. >> i think you're right. they have no choice, larry. i mean, there's no leverage. the tax rates are going to expire on december 31st, so on january 1st, regardless of whether they do not
continues to fester. >>> also, senator daniel inouye of hawaii passed away this afternoon at age 88. inouye was a senator for 50 years. he was a world war ii hero as well. inouye was awarded the medal of honor for actions he took in italy in 1945 as a member of the legendary 442 combat team composed entirely of japanese americans. may senator inouye rest in peace. >>> now back to some stock market work. stocks continue to discount a fiscal cliff solution of some kind. as i've suggested, they're reacting positively. how about a little optimism on that story? up next, some optimism. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? come pre-filled with problems. enough is enough. intro
to say just before leaving for hawaii for christmas. >> i just spoke to speaker boehner, and i also met with senator reid. in the next few days i've asked leaders of congress to work towards a package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans, and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> wow. ten days. so, will the fiscal cliff solve in ten days? i know there's a deal out there some place it may not be until january, but let's ask our free market friday panel what they think. we have the columnist for the hill and former dnc communications director katie pavlitz. and mr. greenhaus is going to stay with us. all right, katie. first of all, obama basically said in ten days we can get a deal, it sounds like a small deal, 250,000 is the middle class threshold after mr. boehner's plan "b" got defeated. is such a thing possible? or will we have to wait until the new year? >> we're probably going to have to wait until the new year, unle
his annual vacation in hawaii to deal with the fiscal cliff. no sight of congressional leaders. they're not in town. investors getting a little bit nervous. will congress get it together in time? no talks that we know of are imminent. it was by at least one measure, the weakest holiday retail sales growth since the financial crisis back in 2008, but could a post-christmas holiday sales bounce be around the corner? >>> and what a year it has been for tech. gadgets and gizmos. apple, facebook, microsoft all have big news. will 2013 be a lucky year for the sector? which tech titans might lead the new trends? simon hobbs is in at the new york stock exchange. >> good afternoon. when president obama arrives back in d.c., can he prevent america falling over the fiscal cliff? house republicans haven't yet called their members back to washington. our chief political correspondent, john harwood, is with us. john, this feels very much like it might be the calm before the storm in more way than one. >> it could be if we go over the cliff and the storm would be generated by the markets and the lo
saved on at least $2,000 with this deduction. on the flip side, borrowers in washington, d.c., hawaii and california, they're getting the biggest tax benefit in the $3,000 to $4,000 range. new york and new jersey are also way up there, thanks to high home values and income. and i'm noting them because these two states need home buyers, desperately. they have some of the biggest backlogs of distressed properties and need buyers in there absorbing that distress. taking away the deduction takes away one more reason to buy. $2,000 to $5,000 a year is a big savings. but we have to keep this in perspective. you only get the deduction if you itemize an only about one-third of americans do itemize. just 27% taking the deduction. and i want to note one other thing, older americans, 54% of families ages 55 to 64 are carrying mortgage debt. that's way up from 37% in 1989, because during the housing crash they were unable to move. so that's going to hit them hard as well. especially for the next several years. melissa? >> some very interesting figures. diana, thanks for that report. back at headq
is confirming that it has plans for a sed set country in india. >>> but first, the hawaii senator daniel inouye died at the age of 8837 he's a veteran and war hero. he was the senate pro item. >>> welcome back to squawk this morning. applemaker is confirming plans for a hand set factory in indonesia. foxconn now saying no timeline has been set. it would cost $5 billion to $10 billion following worker deaths, sudz and other things foxconn and apple has set pledged to bridge a new building steemt. >>> leo g ray kowski is the asset managements. really, leo? do you oversee $178 billion? >> i have a lot of help, swroe. >> that sounds like you would have a lot more wrinkles and look a lot more haggard if you had that responsibility. if we get a cliff deal which is looking closer, are our problems over in terms of this sort of market that's been stuck in the mud for a decade, do you think? >> i think a lot depends on time frame, but no is the short answer to your question. i think, you know, markets being discounting mechanisms, i think it's very unlikely that here in the short-term, we get the type o
of minutes. in the meantime -- >> they are gentlemen. >> in the meantime, the president is in hawaii on vacation. washington lawmakers are on holiday. there's still no deal to avoid the fiscal cliff. the deadline is a week away. hampton pearson is in washington on the stalemate. >> as early as the day after christmas, congress and the white house will have to start to deal with what president obama called the real consequences of going over that fiscal cliff. >> nobody can get 100% of what they want. and this is not simply a contest between parties in terms of who looks good and who doesn't. there are real world consequences to what we do here. >> a short-term deal won't just focus on tax rates. the end of the payroll tax cut and the impact of the hike in the minimum tax on january 1st. over the weekend, we did hear from some republican moderates who say it may in fact be time to make some kind of a move. >> the president's statement is right, no one wants taxes to go up on the middle class. i don't want them to go up on anybody. but i'm not in the majority in the united states senat
Search Results 0 to 11 of about 12